The European court has protected the rights of the investor

the European court under human rights in Strasbourg partially has satisfied the complaint of the investor of bank “ the Russian credit “ wasted money during crisis of 1998 and not signed with bank the agreement of lawsuit. The eurocourt recognised that at the statement of this agreement in arbitration court of Moscow the right of the investor to publicity of process has been broken. Experts consider that nepublichnost the Russian courts can give an additional occasion to complaints on another matters, having increased a stream of references in Eurocourt. on June, 7th the Eurocourt has passed the decision mentioning not only the Russian banks, but also justice system. The eurocourt has considered for the first time the complaint of the Russian citizen against Russia in connection with crisis of 1998. Sergey Zagorodnikov could not return $45 thousand contribution in bank “ the Russian credit “. The agency on re-structuring of the credit organisations (ARKO) has achieved, that the bank has concluded the agreement of lawsuit with creditors. Against its conditions 221 creditor, including mister Zagorodnikova objected.

In August, 2000 the agreement of lawsuit was confirmed by arbitration court of Moscow, however on sessions the creditors who in time have received the notices from court could get only. Investors without such documents, and also visitors have not got to a court building. As a result mister Zagorodnikov who has received the notice with delay, could be present at session only last day hearings.

the infringements connected with a delay of the notice, the Eurocourt did not recognise, as the investor all - taki participated in business. And here that the input in a court building is limited, the Eurocourt has considered as infringement of the right to the fair and public proceeding provided by paragraph 1 of article 6 of the European convention under human rights. “ public character of process protects its participants from secret administration of justice without public discussion “ - it is told in the decision text. In favour of mister Zagorodnikova the state should, according to the decision, pay ˆ1 thousand indemnification of moral harm - the sum usually awarded by Eurocourt at infringement of the right to fair proceeding.

about return to the investor $66,58 thousand ($45 thousand under the contribution with percent) Eurocourt has thus rejected the requirement, without having found communication between infringement of the rights and losses. “ I intend to address in arbitration court of Moscow and to demand reconsideration of the case as which the agreement of lawsuit &quot affirmed; - Sergey Zagorodnikov has informed. The arbitration remedial code allows to demand reconsideration of the case on again opened circumstances if the Eurocourt establishes that by consideration of this business the European convention has been broken.

to estimate prospects of reconsideration of the case experts were at a loss. In the Central Bank from comments have refrained, having referred to necessity to understand a situation. The former employee ARKO to whom it was possible to talk to the correspondent, has informed only that re-structuring “ the Russian credit “ for a long time the basic part of requirements of creditors is finished also satisfied according to the agreement of lawsuit. “ to demand reconsideration of the case on again opened circumstances the easier that the bank ` the Russian credit ` operates “ - the president of Association of Russian banks Garegin Tosunjan considers. To Contact representatives of bank “ the Russian credit “ yesterday it was not possible - mobile phones of its heads did not answer.

lawyers consider that the court hardly will agree to reconsider conditions of the agreement of lawsuit. “ it is impossible to present it taking into account that the law ` About re-structuring of the credit organisations ` has become invalid for a long time. Besides, revision of this business can break the rights of citizens in much bolshem scale, than has protected Eurocourt “ - the lawyer of board &quot believes; JUkov, Horse-radishes and partners “ Evgenie Rashchevsky. Sergey Zagorodnikov, however, is assured that the right to receive money on the terms of the agreement of lawsuit signed on behalf of creditors by the representative of their association, remains at it at any outcome of proceeding.

the Eurocourt decision, according to lawyers, will seriously mention system of the Russian justice. “ the eurocourt has paid attention for the first time on nepublichnost of the Russian courts in which safety rules &quot really dominate; - Vadim Vinogradov considers zavkafedroj the Russian legal academy of Ministry of Justice. Precedent, as he said, is beyond arbitration courts and mentions all system of the Russian justice, including the Constitutional court. “ now nepublichnost courts can give an additional occasion to complaints on another matters, having increased a stream of references in Eurocourt “ - the expert believes. The former head of secretary of the Supreme Arbitration Court Boris Polonsky in estimations is more careful: “ the Eurocourt not gives to the decisions character of precedent, and the official collection of case decisions with official translation into Russian does not exist yet “. Thus mister Polonsky recognises that the position of Eurocourt expressed in decisions on a recognition of infringement of the European convention, is obligatory for all its participants, including Russia.